After Yesterday's Rally of 2.38% Shares Could Potentially Pullback
Chesapeake Energy (NYSE:CHK) traded in a range yesterday that spanned from a low of $6.62 to a high of $6.85. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $6.70 on volume of 41.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Chesapeake Energy on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.99. Since that recommendation, shares of Chesapeake Energy have risen 30.8%. We continue to monitor CHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Chesapeake Energy have traded between a low of $1.50 and a high of $16.98 and are now at $6.70, which is 346% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 6.3%.
Keywords: rebounders Chesapeake Energy